The liquidation of Otkritie Bank will take place in 2025
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The voluntary liquidation of Otkritie Bank and the surrender of its license are scheduled for 2025. This was announced by the Deputy Chairman of the Board VTB Dmitry Pianov.
“We understand that it will take us 2023 to finalize the IT systems at VTB’s arm to accept the client base. In 2024, there will be a migration of the active client base. In 2025, we will enter into voluntary liquidation and surrender of the license by the Otkritie Banking and Financial Corporation,” the deputy chairman said.
In November 2022, the chairman of the board of VTB, Andrey Kostin, stated that after the acquisition of Otkritie by VTB Bank, it “will exist for another year and a half, and then its brand will disappear.”
In the summer of 2017, the Central Bank announced the reorganization of Otkritie. How noted Vedomosti in December last year, the reorganization of Otkritie is the largest bailout in the history of the Russian banking sector and the first bank that the Central Bank has rehabilitated in a new way through the Banking Sector Consolidation Fund (FCBS) controlled by it. Rehabilitation with the help of the FCBS provides for the sale of the bank after the end of the rehabilitation.
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